JOBS- IT HIRING: Infosys resumed its campus recruitment drive after a break of four quarters, targeting the hiring of 15,000 to 20,000 fresh graduates during the current fiscal year. This move, which includes both on-campus and off-campus placements, reflects the company's flexible hiring strategy.
The off-campus recruitment approach focused on hiring new graduates outside the traditional campus placement season. In contrast, Infosys's competitor TCS aimed to hire around 40,000 freshers this financial year, maintaining its hiring levels from the previous year.
In the June quarter, Infosys's workforce decreased by nearly 2,000 employees, reducing the total headcount to 315,332. Infosys CFO Jayesh Sanghrajka stated, "Over the past several quarters, we have adopted an agile hiring approach, bringing in freshers both from campuses and off-campus. Our utilization rate is currently at 85%, leaving us with limited capacity. We plan to hire 15,000 to 20,000 fresh graduates this year, depending on our growth projections," it is reported.
The company's utilization rate, excluding trainees, rose to 85.3% in the June quarter from 83.5% in the March quarter. Infosys has adjusted its hiring model to ensure that 50% of new recruits are sourced from campuses, with the remaining coming from off-campus recruitment.
IT companies, traditionally the largest recruiters of engineering and technology talent, saw a decrease in combined headcount by nearly 64,000 in the past financial year. This decline was attributed to a slowdown in off-campus hiring, influenced by a downturn in key customer markets.
Krishna Vij, business head of IT staffing at Teamlease Digital, said, "Despite a general trend of reduced attrition and increased productivity, companies are creating new roles to support their growth. Additionally, there is a strong emphasis on future expansion. By hiring freshers, companies can invest in training and development to ensure they acquire the skills needed to meet future client demands,".
Infosys's recruitment plans will incorporate a mix of on-campus and off-campus hiring, tailored to project requirements and the skills needed. The company also intends to hire lateral staff as necessary.
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